Riyadh - Sharikat Mubasher: The Small and Medium Enterprises Loan Guarantee Program (Kafalah) signed a cooperation agreement with the Environment Fund to launch a loan guarantee product to foster small and medium-sized enterprises (SMEs) in the environment and meteorology sectors.

The agreement was signed by Mohammad Al-Khowaiter, Executive Director of Operational Activities at Kafalah, and Khalid Al Habardi, Executive Vice President for Strategy and External Relations at the Environment Fund, in the presence of Abdulrahman AlFadley, Minister of Environment, Water, and Agriculture, a recent statement unveiled.

The agreement aims to provide loan guarantees to support sustainable environmental projects, enhance investment in the environment and meteorology sectors, and provide credit facilities in partnership with approved financing entities.

Under this partnership, both parties will join hands to support and develop the target group, strengthening the ecosystem of these entities and achieving their financial sustainability.

This step comes within the framework of the ministry's efforts to enhance environmental sustainability, stimulate investment in the environmental sector, promote environmental sustainability, and support pioneering projects.